Regulatory Alerts2024-03-26 | FIL-14-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Rhode Island Affected by Severe Storms and Flooding
The Federal Deposit Insurance Corporation (FDIC) issued regulatory relief measures to assist FDIC-supervised financial institutions operating in storm- and flood-affected Rhode Island counties. Institutions may extend loan repayment terms, restructure existing loans, and receive favorable Community Reinvestment Act consideration without examiner criticism while monitoring impacted municipal securities. The FDIC will also grant extensions for income and condition reports, expedite requests for temporary banking facilities, and waive or modify certain publishing requirements to accommodate disaster-related operational delays.
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